Global toy market

Global toy market 1.0 Background 1.1. Global toy industry Scenario More than 80% of global toy market is generated by three Continents i.e. Europe, North America and Asia. With the recent financial turmoil, the value of toy industry has decreased in two consecutive years, from US$78.67 billion in year 2007 to US$75.033 billion. The shrinking market size is mainly attributed by Western countries, particularly Europe. On the side of the world, Asia registered upward trend in market share for toy market. Chart 1 World Toy Market Scenario NPD analysts attribute the downward trend in global market value for toy industry to the following reasons Low unit price particularly in year end, which intensified further by the financial crises Cannibalization by other games categories namely video games, electronic games etc. In developed market, the per capita usage for toys is high as they are considered to be an important aid in a childs development vis-a-vis a wasteful expenditure in developing nations. The scenario is illustrated in below table:- Table 1 Toy expenditure Country Kids population in 2008 (million) Spending per kid in 2008 (US$) Total available market in 2008 (US$) United States 61.6 $281 $17.31 billion Japan 17.4 $286 $5 billion China 267.4 $17 $4.5 billion United Kingdom 10.3 $348 $3.6 billion France 11.9 $293 $3.5 billion Germany 11.4 $223 $2.5 billion Brazil 52.9 $38 $2.01 billion India 361.4 $5 $1.8 billion Mexico 32.6 $53 $1.7 billion Italy 7.9 $185 $1.5 billion Source: NDP Group, 2009 1.2 Toy Industry Structure Toys are classified into four broad categories, namely Traditional Toys which consist of action figures, dolls, playsets, stuffed animals, models, and other related products Board games Video Games Casino Games Accessories. Globally, the market is dominated by four large players viz: Mattel, Lego, Hasbro Bandai with Mattel the largest and selling toys under the brand Barbie, Hot Wheels, Fisher-Price etc. Table 2 Global toy makers product portfolio Toy maker Traditional toys brands Board games Video Games Licensing product Mattel Barbie, Break the Safeâ„ ¢, Hot Wheels ®, Matchbox ®, American Girl ®, Fisher-Price ®, Little People ®, Rescue Heroesâ„ ¢, Power Wheels ® UNO Barbie CareNCure, UNO, Barbie Girls, Hot Wheels etc Disney, Warner Bros., Pixar, Viacom International Inc., Sesame Workshop Hasbro My Little Pony, SpongeBob, Toy Story Monopoly, Pictureka, Scrabble Monkeybar Transformer, G.I. Joe, Incredible Hulk, Jurassic Park, Spider-Man, Star Wars, Wolverine, Disney, Iron Man Bai Dan Ben 10, Power Ranger, Dragon Ball, Digimon, Blue Dragon NIL Kamen Rider, Harumika, Tamaguchi, Mugen Pop PopTM Ben 10, Power Ranger, Dragon Ball, Ultraman MGA Entertainment Bratz range, Zapf Creation, Little Tikes, Baby born, Chou Chou, MGA games, My-ePets 3D, Resue PetsTM NIL NIL NIL Disney Disney characters NIL Disney characters Disney characters LEGO LEGO bricks NIL LEGO NIL Takara Tomy Plarail, Pocker Moser, Transformers, Tomica die-cast vechicles, Yumel and Nerul, Licca doll line Jinsei Games Tasinoko Production, Game software Disney characters There are several market signals have impacted to toy market. Globally, toy manufacturers are partnering with companies from other sectors, like fast-food chains in their merchandise promotion campaigns, e.g. McDonald Mushrooming of dedicated malls/stores for toys is becoming increasingly visible e.g. Toy â€Å"Râ€Å" us Retail consolidation in overseas markets has changed the landscape for toy exporters. Production of movies based on toy characters for television audience is a unique trend for promoting toy sales in the US. Toy makers are entering into licensing deals with movie studios to make products in the image of film characters e.g. Disney, Sony Picture, Bai Dan etc. 1.3 Mattel Inc. 1.3.1 Mattel Inc. founded by Harold Matt Matson and Elliot Handler (hence the name matt-el) and incorporated in 1948 with Headquarter in Hawethorne, Los Angeles County, California and later relocate to El Segundo, CA in 1990. Barbie was brainchild by Elliot and Ruth Handler co-founders of the Mattel Toy Company. Ruth came up with the idea for Barbie after watching her daughter, Barbara Handler, play with paper dolls. The three-dimensional model for Barbie was a Germen doll Mattel refashioned the doll into an all-American version and named it after Barbara, who was then a teenager. Barbies boyfriend, Ken, was introduced in 1961 and named after Barbaras brother. 1.3.2 Since establishment, Mattels product portfolio has grown from its flagship brand, Barbie, to toy cars, board games, dolls, cuddly toys and education toys – Mattel offers comprehensive product lines to cater for different age groups – new born to adult segments. This can encourage repeat customer and attract different customer profiles with its range of different toys. Table 3 Mattel Inc.s product range by market segments Market segment Brand Infant Pre-school School Kids Tweens @ Pre-teens Teens (12 years above) Adults / Parents Barbie P P P P Fisher Price P P P Hot Wheel P P Tyco Toys P P P American Girls P P Sesame Street P P P UNO P P Scramble P P P MyScene Dolls P 1.3.3 Mattels Corporate Structure 1.3.4 Business Model Broadly, Mattel Inc.s businesses are segmented by geographically – domestically and internally. Mattels presence at Canada, Latin America, European, Asian countries, Australia, and New Zealand. 1.3.5 Along its establishment in the market, Mattel has gone through several hypes and downs†¦ Table 4 Mattel Inc. Events in chronological order Success stories Failures * 1959 – Barbie debut * 1965 – Enters Educational Market with See ‘N Say * 1968 – Hot Wheels Introduced * 1977 – Ventures into Electronic Game Market * 1993 – Merges with Fisher-Price * 1996 – Introduces Tickle Me Elmo * 1998 – Fisher-Price takes control of Infant and Preschool Character Brands * 1998- Acquired Pleasant Company, the maker of the American Girl collection, which is a series of historical dolls, books and accessories * Mattel says the average American girl owns ten Barbie dolls, and two are sold somewhere in the world every second * As a teenage fashion model, Barbie has worn many fabulous fashions. Beginning with her trademark black and white striped swimsuit and swirled ponytail, Barbie has followed style trends as well as blazed her own fashion trail. She even inspired some of fashions top designers * Barbie celebrates her 50th birthday in 2009. * Mattels Barbie opened her first flagship store on March 6, 2009, six-story showpiece at Shanghai . The store will also be a testing ground for new marketing strategies and services, including a design center where visitors can create their own dolls * Sold The Learning Company at a lost in year 2000 * Toxic Toys Scandal. Recalled millions of China-made toys as potential hazards from parts of the toys which were colored using lead-based paint that may have exceeded the US Federal limit of 600 part per million. 18.2 million items were recalled in total in year 2007. 2.0 Mattels Vision and Mission Jennifer 2.1 Mattels Philanthropic Vision To make a meaningful difference, one child at a time. 2.2 Mattels Philanthropic Mission Mattel makes a difference in the global community by effectively serving children in need. Partnering with charitable organizations dedicated to directly serving children, Mattel creates joy through the Mattel Childrens Foundation, product donations, grant making and the work of employee volunteers. We also enrich the lives of Mattel employees by identifying diverse volunteer opportunities and supporting their personal contributions through the matching gifts program. 2.3 Mattels Philanthropic Values We intend to make a meaningful difference in the lives of children in need around the world through our interactions how we play with our communities, our partners, and our volunteers. Play with Passion: By making a meaningful and lasting impact on children globally. Play Together: By forming deep partnerships to enrich the communities in which we work and play, and engaging Mattel employees in our efforts. Play Fair: By acting with unwavering integrity in all aspects of our work. Play to Grow: By striving to make long term differences in the lives of children in need and seeking continuous improvement. 3.0 The External Assessment Ezuan Issues to discuss: Opportunities An alliance with an Asian company, Bandai Weakening dollar makes Mattels products more affordable in many of these new markets greatest pressures to adapting products with the constant changing of society * etc Threats Children abandon tangible toys such Hot Wheels and Barbie for more interactive and technological products. Need extreme careful to protect customers legal and moral reputations by respecting the privacy of the children and their families, which is put in jeopardy every time the website asks a minor to provide information. Global recession problems breaking into foreign markets due to cultural barriers After-effect of Toxic Toys Scandal with 18.2 million items were recalled in total in year 2007 Etc External Factor Evaluation (EFE) matrix Key Internal Factors Weightage Rating Weighted score Opportunities 1. Barbie an recognizable brand worldwide 0.1 4 0.4 2. Weakening dollar makes results market affordability 0.1 3 0.3 3. Favorable US tariff law 0.05 3 0.15 Threats 1. Children abandon tangible toys for more interactive and technological products. 0.1 1 0.2 2. Global recession cause reduce spending or down trading for toy 0.05 1 0.1 3. Cultural barriers hinder market penetration 0.1 1 0.1 4. High product substitution 0.1 1 0.1 5. Government Regulations and Environmental Quality 0.05 2 0.2 6. Higher bargain power from retailers 0.05 2 0.2 7. Raw material subject to price fluctuation 0.05 2 0.1 8. Highly seasonal business 0.05 2 0.1 9. Rising in ‘cyber @ virtual games 0.1 1 0.1 10. Unpredictable shift in the play patterns of Gen X kids ‘Netizen 0.1 1 0.1 Total 1.00 2.15 Note: Weight factor: 0.0 (not important) to 1.0 (very important) Rating scale: 1 = Major Weakness 2 = Minor Weakness = Minor Strength 4 = Major Strength. Competitive Profile Matrix (CPM) for Mattel Inc. Wght. Mattel Inc. Hasbro Bai Dan MGA Ent. Disney LEGO Takara Tomy Rating WS Rating WS Rating WS Rating WS Rating WS Rating WS Rating WS Global Market share 0.10 4 0.4 3 0.3 3 0.3 2 0.2 4 0.4 3 0.3 3 0.3 Product Quality 0.10 3 0.3 3 0.3 3 0.3 3 0.3 3 0.3 3 0.3 3 0.3 Product variation 0.15 4 0.6 4 0.6 3 0.45 2 0.3 4 0.6 2 0.6 3 0.6 Price competitive 0.10 3 0.3 3 0.3 4 0.4 3 0.3 3 0.3 3 0.3 3 0.3 Technology Innovation 0.10 2 0.2 3 0.3 3 0.3 3 0.3 3 0.3 3 0.3 3 0.3 Management Experience 0.10 3 0.3 3 0.3 3 0.3 3 0.3 3 0.3 3 0.3 3 0.3 Financial position 0.10 3 0.3 3 0.3 3 0.3 3 0.3 3 0.3 3 0.3 3 0.1 Customer loyalty 0.15 2 0.3 2 0.3 2 0.3 2 0.3 2 0.3 2 0.3 2 0.3 Global expansion 0.10 3 0.3 4 0.4 4 0.4 2 0.3 4 0.4 4 0.4 2 0.1 Total 1.00 3.0 3.1 3.05 2.7 3.2 3.2 2.7 4.0 The Internal Assessment Ezuan Issues to be discussed: Strengths Long history in toy industry Preferred brand by customers Releasing new product annually follows a code of ethics, as well as requiring ethical actions of their suppliers. contributes to the communities merged with or struck licensing deals with a number of other established brands, including Disney, Fisher Price, Nascar, and even Microsoft. time delivery of products to retailers has soared in recent years from 50% to 90%, due to improvements in information systems and warehouse facilities. product availability has been improved in specific market with collaborative efforts with international firms, specifically Bandai Co. of Japan. able to simultaneously cater products to each markets taste, and maintain high flexibility and low costs by simplifying packaging strategies etc Weaknesses * Until the acquisition of Fisher Price, most of Mattels attempts to expand beyond their primary market of childrens toys were largely unsuccessful  · Etc Internal Factor Evaluation (IFE) matrix Key Internal Factors Weightage Rating Weighted score Strengths 1. Barbie as a long established brand – 60 years 0.05 4 0.2 2. Recognizable brand portfolio 0.10 4 0.4 3. Wide product range to cater various life stage 0.10 4 0.4 4. New product launch annually 0.05 3 0.15 5. Business Integrity 0.05 3 0.15 6. Corporate Social Responsibility 0.05 3 0.15 7. Strategic partnership with Microsoft, Disney, BanDai 0.10 3 0.3 8. Energetic management team 0.05 3 0.15 9. Efficient automation of SCM 0.05 3 0.15 10. Trade names and trademarks as significant assets 0.05 4 0.2 Weaknesses 1. Unprofitable mergers and acquisitions 0.05 2 0.1 2. Slipping popularity of their core product, Barbie. 0.10 1 0.1 3. After-effect of Toxic Toys Scandal 0.10 1 0.1 4. History of management struggles and uncertainty 0.05 2 0.1 5. Royalty expense for license agreement 0.05 2 0.1 6. Liquidity problems or bankruptcy of key customers Total 1.00 2.75 Note: Weight factor: 0.0 (not important) to 1.0 (very important) Rating scale: 1 = Major Weakness 2 = Minor Weakness = Minor Strength 4 = Major Strength. 5.0 Strategies in Action Jennifer 6.0 Strategy Analysis and Choice Ismi Strengths [S] Weaknesses [W] Opportunities [O] Threats [T] 7.0 Implementing Strategies 7.1 Background The growth plan for Mattel Inc will be:- Maintaining its Corporate Social Responsibility – sustain its commitment to children, business partners, suppliers and environment Expending its territories with product diversification and business sustainability – strengthen and gain market share Zero product recall to boost up its brand image Below illustrate the direction for Mattel Inc. to concentrate in:- 7.2.0 Mattel Inc.s Direction 7.2.1 Management Operation Strategies The massive recall incidence in 2007 Christmas season will be an occasion to be remembered for Mattel Inc. Thus it is essential for Mattel to enhance its working relationship with their suppliers and business partners. Mattels product lines are manufactured in both company-owned facilities and through third-party manufacturers and the market demand is highly seasonal driven. In order to mitigate, it is crucial for Mattel to ensure just-in-time inventory practices to reduce backlog of orders. Mattel is committed to executing Global Manufacturing Principles (GMP) policy in all areas of its business, i.e. to all parties that manufacture, assemble, or distribute any product, or package bearing the Mattel logo, and, will only engage business partners commit to GMP. Mattel will ensure full compliance of GMP by its business partners, and will assist them in meeting GMP requirements. The GMP principles are to ensure there is a holistic approach that all the key stakeholders are being well care off. To ensure the closed monitoring the third party manufacturers, Mattel need to set up Centre of Excellence (CoE) in selected geographical areas strategically. The main function of the CoE is to embark manufacturing intelligent and ensure smooth execution of GMP and developing best practice in the manufacturing for their strategic partners. 7.3 Marketing Strategies 7.3.1 Segmentation Currently, Mattels product range is catered to wide range of age group, Market segment Brand Infant Toddlers Pre-School Kids Tweens @ Pre-teens Teens (12 years above) Adults / Parents Barbie

Different Brands of Car Dealerships Are Usually Located Near One

1. Different brands of car dealerships are usually located near one another on the same street. What are the pros and cons of this strategy? There are several pros and cons when considering car dealerships locating near one another on the same street. Car dealers cluster because it is in their best interest to do so, given consumer behavior. Buyers would be less prone to buy if dealers were discrete and far away from one another, but they are more prone to shopping if dealers cluster along the same street. One disadvantage of this strategy is the high level of competition amongst each other.This strategy also encourages dealerships to decrease prices, have sales or promotions on vehicles to attract customers. It also encourages the employers to find additional ways to keep their employees motivated to maintain high quality customer service. 2. How does the mall that you shop at frequently combine the shopping and entertainment experience? The mall that I shop at frequently combines t he shopping and entertainment experience by expanding the size of the mall and introducing a vast selection of food choices in the food court.Recently, they open another food court on the other end of the mall, which also has new restaurants from which persons can choose from when they desire to have a meal. In addition, they built a theatre which has eight screens that can be viewed on a daily basis. Also, the entertainment experience is enhanced by performances of both local and international artiste on a regular basis as they perform different genres of music and dance. 3. Why would a Payless Shoe Source store locate in a neighborhood shopping center instead of a regional shopping mall?A Payless Shoe Source would locate in a neighborhood shopping center instead of a regional shopping mall because neighborhood shopping centers are attached rows of stores managed as units, with onsite parking usually located in front of the stores. Payless would want to locate here because they off er customers convenient locations and easy parking, and they have relatively low occupancy costs. Whereas, a regional shopping mall have higher intensity of competition. This is so because it is an enclosed area with similar types of stores with the same products.Also, the occupancy cost is high, in addition to the restricted rules governing window displays and signage. And, customers don’t always have time for a leisurely stroll through a mall. A freestanding location is more convenient because customers can park in front the store, buy what they want, and continue their other errands. 4. Staples and Office Depot both have strong multichannel strategies. How does the Internet affect their strategies for locating stores? Internet has become a major turning point in businesses today.Because of the internet, customers can now order their products from both Staples and Office Depot via the internet. There is no need for them to actually visit a store to see what they have to off er and purchase goods. As a result of this shift in the internet technology, Staples and Office Depot don’t have to be as concerned about the location of their stores. Once their goods and services are well advertised and popular (which they are), people will see them via the internet and make the necessary purchases.

Understanding Term Spreads or Interest Rate Spreads

Term spreads, also known as interest rate spreads, represent the difference between the long-term interest rates and short-term interest rates on debt instruments such as bonds. In order to understand the significance of term spreads, we must first understand bonds. Bonds and Term Spreads Term spreads are most often used in the comparison and evaluation of two bonds, which are fixed interest financial assets issued by governments, companies, public utilities, and other large entities. Bonds are fixed-income securities through which an investor essentially loans the bond issuer capital for a  defined period of time in exchange for a promise to repay the original note amount plus interest. Owners of these bonds become debt holders or creditors of the issuing entity as entities issue bonds as a means of raising capital or financing a special project. Individual bonds are typically issued at par, which is generally at $100 or $1,000 face value. This constitutes the bond principal. When bonds are issued, they are issued with a stated interest rate or coupon that reflects the prevailing interest rate environment at the time. This coupon reflects the interest that the issuing entity is obligated to pay to its bondholders in addition to repayment of the bond principal or the original amount borrowed at maturity. Like any loan or debt instrument, bonds are also issued with maturity dates or the date at which full repayment to the bondholder is contractually required.​​​ Market Prices and Bond Valuation There are several factors at play when it comes to the valuation of a bond. The issuing companys credit rating, for instance, can influence the market price of a bond. The higher the credit rating of the issuing entity, the less risky the investment and perhaps the more valuable the bond. Other factors that can influence a bonds market price include the maturity date or the length of time remaining until expiration. Last, and perhaps the most important factor as it relates to term spreads is the coupon rate, particularly as it compares to the general interest rate environment at the time. Interest Rates, Term Spreads, and Yield Curves Given that fixed-rate coupon bonds will pay the same percentage of the face value, the market price of the bond will vary over time depending on the current interest rate environment and how the coupon compares to newer and older issued bonds that may carry a higher or lower coupon. For instance, a bond issued in a high-interest rate environment with a high coupon will become more valuable on the market if interest rates were to fall and new bonds coupons reflect the lower interest rate environment. This is where term spreads come in as a means of comparison.   The term spread measures the difference between the coupons, or interest rates, of two bonds with different maturities or expiration dates. This difference is also known as the slope of the bond yield curve, which is a graph that plots the interest rates of bonds of equal quality, but different maturity dates at a specified point in time. Not only is the shape of the yield curve important to economists as a predictor of future interest rate changes, but its slope is also a point of interest as the greater the slope of the curve, the greater the term spread (gap between short- and long-term interest rates). If the term spread is positive, the long-term rates are higher than the short-term rates at that point in time and the spread is said to be normal. Whereas a negative term spread indicates that the yield curve is inverted and the short-term rates are higher than the long-term rates.

Persuasive Essay for Pro Capital Punishment - 1283 Words

Persuasive Essay Why Capital Punishment Should Remain in Effect Stefanie Ridgway DeVry University, ENGL 112 Professor Adams April 19, 2010 Capital punishment, otherwise known as the death penalty, has been effective tool in our country’s justice system since its inception. When an inmate is given this, the harshest sentence available, it is always with just cause. Capital Punishment is an important tool in our criminal justice system today and there are several reasons it should remain in effect. Although capital punishment opponents would argue otherwise, there is undeniable proof that capital punishment is in fact a deterrent to committing crimes with that would warrant this sentence. One of the most basic instincts†¦show more content†¦As you can see the numbers speak for themselves. Although our nation has gotten away from it in recent years, we were founded by those who had strong religious beliefs. 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Marilyn Monroe Impact on Popular Culture - 1652 Words

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Team Goals Free Essays

Team goals are the specific and measurable performance outcomes to be accomplished. A team is a group of individuals working to achieve a common goal. Thus, team goals dictate the performance, effectiveness and success of the team. We will write a custom essay sample on Team Goals or any similar topic only for you Order Now Goals should therefore be clear and all members should have a common shared vision of the goals. When team members understand the goals, team roles are also clarified so each member can focus on their task. Consequently members are provided with a sense of identity. Team goals therefore serve to motivate the team when members effectively perform their roles. Goals also must be measurable because without measurable goals, teams may lose direction and will not be able to gauge performance or determine their progress. Additionally, when team goals and individual goals are more congruent high performance is more likely to occur. Team Norms Norms are defined as â€Å"mutually agreed upon standards of behaviour† and should therefore be discussed at the early stages of team development. Norms are developed through various ways, they can be written or unwritten and can change or be redefined throughout the existence of the team. Team norms define the boundaries of acceptable behaviour; therefore, norms would enable members to identify any behaviour that is dysfunctional and reduce negative conflict. Thus, norms can allow the team to be functional. To conclude team norms are important because through regulating the members’ behaviour, they help to control and measure the performance of the team and through this, team performance and team success have a positive correlation with team norms. Self Directed Work Teams Self directed work teams are formal groups that complete an entire piece of work requiring several interdependent tasks and have substantial autonomy over the execution of these tasks. That is, members are empowered to make decisions needed to manage themselves on a daily basis. Members within these type of teams therefore rely on multiskilling. Cross Functional Work Team A Cross-functional team is a group of people with different functional expertise working toward a common goal. How to cite Team Goals, Papers

International Resource Management for Performance -myassignmenthelp

Question: Discuss about theInternational Resource Management for Performance Management. Answer: The essay presents a brief overview of the international human resource management in the association. It tells that how sustainable human resource management influence the trade and business of the company. It explains key roles and functions of the human resource within the organization. The sustainable and effective IHRM is important to expand the trade and business worldwide. It describes the roles and responsibilities of the HR head to run the business effectively at global level. International human resource management is the primary function of every association. The international HRM includes the various activities such as motivation, recruitment, employment, staffing, selection, performance management, compensation, incentives and performance appraisal. The human resource management is the backbone of the company. The association cannot run the business effectively and efficiently without sustainable IHRM. This management works for the employees safety and it provides job satisfaction to the employees. The HRM makes various kinds of rules, policies, strategies and regulations to conduct the trade successfully (Al Ariss, Cascio Paauwe, 2014). The HRM deals with planning, organizing, motivating, directing and controlling the personnel activities and functions of the business. The scope of the human resource management is much wider. HRM provides support and guidance to the line management. They search and attract high caliber and potential employees to gain the competitive advantages in the market (Barney, Ketchen Jr Wright, 2011). HRM addresses various issues and key challenges of the organization. IHRM ensures that whether business activities and operations are conducting inefficient manner or not, it also ensures that whether the company is following the ethical and legal standard or not. IHRM also includes worldwide recruitment and selection strategy and performance management. The human resource activities are conducted by the IRHM at global level. The international HRM directs and operates three categories of the employees which have been discussed below (Armstrong Taylor, 2014). Home country employees: The home region employees are the employees who are from the same country where the company headquarter is situated. Host country employees: The host country employees are the people who are the resident of a nation in which the company branch and plant is located (Budhwar Debrah, 2013). Third country national employees: The third country national employees are not the resident of the home country as well as host country but they work in the subsidiary company. Now a days many MNCs wants to expand its business globally to gain the revenue and profit across the world. Thus, many issues and challenges are faced by the companies while conducting business at international level. They need to follow various rules, policies, strategies and regulation at global level. Thus, MNCs maintain effective and sustainable human resource department in the company to run the business activities and operations successfully. Mainly, the success and growth of the trade depends on the effective IHRM. The employees come from different background and traditions in global business thus they are not able to understand the culture of the other country. In this way, various challenges and difficulties are faced by the employees. They key functions of International human resource management are discussed below (Buller McEvoy, 2012). Staffing and recruitment: It is the core function of human resource managers and it affects the business activities globally. The staffing and recruitment includes various activities of the employment. It includes job analysis, job design, compensation and reward scheme, recruitment and selection. The IHRM analyzes and indentifies the business activities and operations of every country to understand the culture of the country. HR manager is responsible for the induction and coaching of the workers who come from different country and location across the world. The international HR manager is responsible to attract more candidates to run the business at international level. HR manager is responsible to hire qualified, skilled and competent employees in the firm to do business actions successfully (Caldwell, Truong, Linh, Tuan, 2011). Compensation and salary packages: It is the main and core function of IHRM. Rewards and compensation must be provided by the HR manager. HRM evaluates and indentifies potential and competent employees to carry the business effectively and efficiently. The IHRM also provides incentives, bonus, and compensation to the employees. The sustainable HRM should provide flexible working hours to the employees to do global business effectively and efficiently. Remuneration and compensation scheme is the other functional approach of the International human resource management (Fairlie, 2011). Administrative function: HR manager should understand that how to achieve the goals and objectives of the firm. They do administrative task also to gain the long term success and growth in the market. They evaluate and analyze the activities of the different department to carry the business effectively at international level (Huselid Becker, 2011). Professional development: It is the core function of the IHRM which related to induction and coaching. It provides induction, training and development coaching to the employees to improve the skills and efficiency of the expatriates. It provides excellent and unique strategies growth opportunities to the workers. It also encourages employees to do work successfully and efficiently with maintain sustainability at the workplace. The aim of the training and development is to provide sufficient training to the employees in a company to fulfill the global goals and objectives (Inyang, Awa Enuoh, 2011). Performance evaluation: The international HR manager evaluates and analyzes the performance of the employees to perform the task at international level. They collect feedback from supervisor to evaluate the performance and productivity of the workers. It is the important function of the IHRM. Through performance evaluation, HR manager can identify the potential employees within the organization. They must provide some extra benefits to potential and competent employees. Generally, performance evaluation is conducted by the administration manager to carry the business successfully. HR manager should evaluate the employees from different countries. The performance assessment depends on the strategy of the international human resource management (Edwards Kuruvilla, 2005). Labor relations: HR manager should maintain good labor relations with employees to run the business activities effectively. They are responsible to maintain good communication and collaboration with employees to build employee engagement across the world. It will also help to provide job satisfaction to the employees (Chung, Sparrow Bozkurt, 2014). Legal compliance: It is the foremost function of the IHRM to derives the business smoothly. HR managers check and evaluate whether the company follow proper law and regulation or not, whether other labor laws and rules are fulfilling the requirements or not. The various laws involve health benefits, rewards and compensation schemes, minimum wage law and other rules and regulation related with employment. The company should follow all these rules and regulations to expand its business successfully in different countries (Tarique Schuler, 2010). Now it is assumed that IHRM is the core and primary function of the company. It also monitors core values and core competencies of the home country as well as host country. They analyze the culture and custom of the host country to identify the risk and challenges of the country. They use the effective strategies and policies to flourish its business globally. In this way, the company can beat its competitors across the world. The key components of HR strategy play a significant role in every organization. The key components of HR strategy which have been discussed below (Delbridge, Hauptmeier Sengupta, 2011). Assessment of organization and employees performance: It is the major strategy of human resource management. The HR manager is responsible to evaluate the performance and efficiency of the expatriates to increase the revenue and sales of the company. Build and develop HR strategy and policies: IHRM work like as a consultant to develop unique strategies, plans, and policies of the workers. The plans and policies are essential to gain the long term growth and success across the world (Farndale, Scullion Sparrow, 2010). Effective and unique organizational formation and design: It is the important element of HR strategy to overcome on the competitors in the market. It provides long term benefits to the employees as well as organization. Reward and remuneration strategy: It is the important strategy of IHRM to conduct its business globally. The human resource management is responsible to provide rewards and remuneration to the employees. It will increase the confidence of the employees (Thompson, 2011). Maintain a good organizational culture: It is the major key element of the HR strategy to attract more candidates across the world. IHRM tries to maintain effective and unique culture at the workplace to gain the long term advantages in the host country (Vaiman, Scullion Collings, 2012). Employee engagement: This is the important strategy of international human resource management to expand and flourish its business in the host country. The HR manger should focus on the employee engagement and commitment to fulfill the needs and requirement of the company (Sparrow, 2012). The roles and responsibilities of HR executive as global aspects have been described below. HR manager is responsible for recruitment and selection of the employees. They make effective strategies and approaches to attract more candidates in the market. IHRM is accountable to conduct training, induction and development coaching to the employees. They evaluate and monitor the performance of the employees. They are answerable to provide good working environment and atmosphere to the employees at international level (Werner DeSimone, 2011). They are responsible to maintain reciprocal relationship with employees across the world. They should resolve the conflicts and problems of the employees. In this way, they can give contribution in employee engagement. They are responsible to collect feedback from supervisors to check and evaluate the performance of the employees. They should build and develop trust, faith and belief among the employees to encourage them to do work effectively and efficiently. They are responsible to motivate the employees to run the business at international level. In this way, entire business activities and operation are carried by the IHRM. The company cannot run its business in host country without effective international human resource management (Wright McMahan, 2011). The report is based on the sustainable human resource management. After the various studied it has been evaluated that none of the organization can flourish its business without effective international human resource management. Further, if the company wants to expand its business globally then it should focus on the innovative policies, techniques and strategies to increase the revenue and profit of the company. Now it is assumed that international HRM plays a vital role in very organization to conduct its business at international level. References Al Ariss, A., Cascio, W. F., Paauwe, J. (2014). Talent management: Current theories and future research directions.Journal of World Business,49(2), 173-179. Armstrong, M., Taylor, S. (2014).Armstrong's handbook of human resource management practice. Kogan Page Publishers. Barney, J. B., Ketchen Jr, D. J., Wright, M. (2011). The future of resource-based theory: revitalization or decline?.Journal of management,37(5), 1299-1315. Boxall, P., Purcell, J. (2011).Strategy and human resource management. Palgrave Macmillan. Budhwar, P. S., Debrah, Y. A. (Eds.). (2013).Human resource management in developing countries. Routledge. Buller, P. F., McEvoy, G. M. (2012). Strategy, human resource management and performance: Sharpening line of sight.Human resource management review,22(1), 43-56. Caldwell, C., Truong, D. X., Linh, P. T., Tuan, A. (2011). Strategic human resource management as ethical stewardship.Journal of business ethics,98(1), 171-182. Fairlie, P. (2011). Meaningful work, employee engagement, and other key employee outcomes: Implications for human resource development.Advances in Developing Human Resources,13(4), 508-525. Huselid, M. A., Becker, B. E. (2011). Bridging micro and macro domains: Workforce differentiation and strategic human resource management. Inyang, B. J., Awa, H. O., Enuoh, R. O. (2011). CSR-HRM nexus: Defining the role engagement of the human resources professionals.International Journal of Business and Social Science,2(5), 118-126. Thompson, P. (2011). The trouble with HRM.Human Resource Management Journal,21(4), 355-367. Werner, J. M., DeSimone, R. L. (2011).Human resource development. Cengage Learning. Wright, P. M., McMahan, G. C. (2011). Exploring human capital: putting humanback into strategic human resource management.Human Resource Management Journal,21(2), 93-104 Edwards, T., Kuruvilla, S. (2005). International HRM: national business systems, organizational politics and the international division of labour in MNCs.The International Journal of Human Resource Management,16(1), 1-21. Delbridge, R., Hauptmeier, M., Sengupta, S. (2011). Beyond the enterprise: Broadening the horizons of International HRM.Human Relations,64(4), 483-505. Tarique, I., Schuler, R. S. (2010). Global talent management: Literature review, integrative framework, and suggestions for further research.Journal of world business,45(2), 122-133. Chung, C., Sparrow, P., Bozkurt, . (2014). South Korean MNEs international HRM approach: Hybridization of global standards and local practices.Journal of World Business,49(4), 549-559. Farndale, E., Scullion, H., Sparrow, P. (2010). The role of the corporate HR function in global talent management.Journal of world business,45(2), 161-168. Sparrow, P. (2012). Globalising the international mobility function: The role of emerging markets, flexibility and strategic delivery models.The International Journal of Human Resource Management,23(12), 2404-2427. Vaiman, V., Scullion, H., Collings, D. (2012). Talent management decision making.Management Decision,50(5), 925-941.